According to ROC’s Chief Operating Officer, Bruce Clement, “[Based on] the latest information received by ROC, the Nanhai IV jackup is expected to commence operations at the Wei 12-7-1 well location in Block 22/12 in the Beibu Gulf, offshore China, within several days.”

“The Nanhai IV drilling rig, which has been contracted to drill two to five wells for the Block 22/12 Joint Venture, is expected to complete its current operations for a third party within the next few days, after which it will immediately commence work for ROC on the Wei 12-7-1 exploration well,” added Clement.

ROC has a 40% stake in the block and is the operator. Other partneres are Petsec, Horizon and First Australian Resources.

Clement also announced progress at the deepwater Rio Muni Basin, off the coast of Equatorial Guinea, where ROC is the technical manager for the Block H JV.

According to Clement, “ROC has contracted the Sedco Energy, a fifth generation, dynamically positioned, semi submersible, to drill the Bravo-1 exploration well.”

The semi-submersible will be aimed at the Tertiary channel sands, which has estimated mean recoverable reserve estimate of 116 MMBO.

The well is at a water depth of 1,500 metres. It is located 180 km south-east of Malabo and 65 km north of Amerada Hess’ oil fields in Block G.

According to Clement, “Currently, ROC is scheduled to pay 70% of the cost of Bravo–1 as the final stage of its farmin to Block H and 35% of ongoing costs thereafter.”

“As part of normal industry risk mitigation procedures, ROC may consider farming out part of its interest in Equatorial Guinea, subject to relevant commercial considerations,” added the COO. ROC has a 35% stake in Block H